Church Insurance Carriers Providing Churches and Religious Organizations The Best Insurance for Churches
When it comes to finding the right church insurance company, there are a few key things you’ll want to look for. Most importantly, do the church insurance providers have experience insuring churches and religious organizations?
You’ll also want to ensure that the company is reputable and has an excellent financial rating from AM-Best. Lastly, you’ll want to find a company that offers competitive rates.
With so many insurance companies, it can be difficult to know where to start. Here is everything you must know about finding the right church business insurance provider.
How Do Insurance Brokers Select a Church Insurance Carrier for Religious Organizations?
AM Best Rating of the Church Insurance Company
Integrity Now Insurance Brokers must review the AM Best rating of a commercial property insurance company before requesting to obtain church insurance quotes. Our job is to ensure the financial rating is stable to reduce the potential for issues in the future.
As of January 24, 2023, here are a few examples of AM Best Ratings:
Brotherhood Mutual:
Brotherhood Mutual is currently rated at A- IX ($250 Million to $500 Million)
They were downgraded from Stable to Negative on February 2, 2021
Am Best noted the following in their February 2, 2021 press release: “The rating actions reflect deterioration in Brotherhood’s overall balance sheet strength due to a decline in its risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), and the instability of its loss reserves following a significant increase in net carried reserves in third-quarter 2018”
As insurance brokers, we must consider these actions before placing business with an insurance company that is being downgraded. The insurance company will need immediate corrective actions to stabilize the company and ensure AM Best does not take further negative steps.
Great American Insurance Company:
Great American Insurance Company is currently rated at A+ XV ($2 Billion or greater)
AM Best noted in their December 16, 2022, press release that they reaffirmed the company’s outlook as stable.
Great American’s financials is a company to be desired and to feel confident in their abilities to pay. They provide church package policies that include customized coverage for pastoral professional liability, abuse and molestation, church property insurance, directors and officers insurance, and more.
GuideOne Insurance:
GuideOne Insurance is currently rated at A- IX ($250 Million to $500 Million)
They were upgraded from Negative to Stable on April 7, 2020. On April 1, 2021, AM Best reaffirmed the insurance company’s outlook as Stable.
AM Best noted the following in their April 7, 2020 press release: “The stable outlooks reflect the group’s actions that have steadied capital, improved operating results, and reduced volatility in reserve development relative to surplus over the past two rating cycles.”
Integrity Now Insurance Brokers reviews these financials positively as the insurance company has stabilized and is moving in the right direction. They quickly took the appropriate actions needed to be upgraded by AM Best.
It is essential to review AM Best regularly to ensure the carriers we represent are financially sound to ensure your congregation, employees, and volunteers are protected in the event of a loss. Religious groups need liability policies from stable insurance companies that provide the unique coverages required by churches and nonprofits.
Church Insurance Coverage Offered
Sometimes the cheapest church insurance coverage is not always the best insurance coverage. I always say the devil is in the details of the insurance policy language. Nonprofit organizations must ensure the insurance covers not only property insurance but all liability needs of the church organization.
Church insurance is essential to the financial health of religious organizations and houses of worship. As church Insurance brokers, we may offer various coverage options to protect churches from potential risks.
These risks include General liability insurance for churches, church property insurance, nonprofit group health benefits, religious school and daycare insurance, church camp coverage, and travel insurance.
With the sharp rise in inflation in 2022, church buildings must request updated replacement cost estimates from your church insurance agents to ensure the inflation guard on your policy keeps up. While many churches may not be able to afford a larger premium increase due to raising the building limits, your churches can’t afford to if a fire strikes.
Contact one of our church insurance agents to request a complete policy review and obtain church insurance quotes today.
Claims Handling of the Church Insurance Providers
As an independent insurance agent, the last thing we want to find out is one of our clients is not being taken care of by a church insurance provider we recommended. This is why churches and other religious organizations need a professional church insurance agency with access to multiple commercial insurance companies.
This allows companies like Integrity Now Insurance Brokers to continually evaluate companies versus being stuck with only one company and recommend changing companies if and when an insurance company starts to fall down on their customer service or claims handling.
I always say the claims experience can make or break a relationship. This is where ministries across the US decide if their insurance company has what it takes to get them back up and running.
We work with some of the best church insurance companies known for their claims handling. Are they perfect on every claim? No, but they are pretty fantastic on most.
Rates Charged by the Church Insurance Company
The rates charged by an insurance company need to be consistent and reasonable. No one likes feeling like they go a great deal to find out their insurance premiums jump significantly a year later for no good reason.
Our licensed church insurance consultants provide quotes from well-established insurance companies and provide commercial policyholders with a fair and consistent policy for religious organizations that are fair and consistent. Church insurance costs will increase most years slightly to compensate for the building coverage increase. This is normal, but with the Church Insurance Company, we ensure your rate hikes never blindside you.
We work closely with our church insurance companies so that they can better serve their policyholders and provide consistent insurance to protect your church insurance needs.
Underwriting Guidelines
When selecting a church insurance carrier for a religious organization, there are several fundamental underwriting guidelines to consider. It’s essential to compare and contrast different insurance carriers to find the one best fits the organization’s needs.
Some policies include coverage that is far superior to others. Still, if the underwriting guidelines state the church must fit a specific mold, many small church insurance programs will not be a fit for that insurance company’s requirements.
While underwriting guidelines are designed to protect the insurance company, they should also help small religious ministries and large churches obtain the required insurance coverage.
Our team of church insurance professionals offers expert advice and helps provide the needed accident insurance which covers property and liability risks.
Available Discounts offered by the Insurance Company
When it comes to insurance for religious organizations, many insurance companies offer various discounts. For example, GuideOne offers a Group Affiliated Program designed to provide specialized, comprehensive insurance coverage for the headquarters of religious organizations and their member institutions.
GuideOne Mutual Insurance will provide a return of premium for churches within this group affiliation if the overall program has low losses. We have seen checks that can equal thousands of dollars being returned to individual churches.
Other discounts offered by insurance companies include risk management credits, experienced staff, and loss control policies and procedures established and followed. When you need insurance, ensure you discuss available discounts offed by the insurance company.
Stability of Renewal Rates Charged by the Insurance Company
The stability of renewal rates charged by an insurance company is crucial when selecting a church insurance carrier for a religious organization. This is important for religious organizations as it ensures that their insurance premiums will remain consistent in the long run.
Risk Management Services Offered by the Insurance Company
Insurance companies specializing in churches insurance will provide a wide range of risk management services to religious organizations, such as an online article library, sample forms, policies, checklists, how-to videos, manuals and publications, a Loss Control Services team who can review operations, procedures and programs, and expert guidance regarding creating a custom insurance or benefits package.
The insurance company will also negotiate lower costs services such as criminal background checks for churches to utilize. Review the insurance company’s website to see what extra benefits they provide to their policyholders.
Local Claims Team in each State
Many insurance companies have cut back on their claims teams and have centralized their services in a single state. Unfortunately, this comes at a cost to religious groups. Our independent agents work with insurance companies with a trusted name recognized by churches across this great nation.
These church insurance carriers are designed to help houses of worship and maintain a local presence to serve their clients best.
5 Best Church Insurance Carriers
Church Mutual Insurance Company
The features and benefits of Church Mutual Insurance Company include:
- Specialized expertise in religious organizations and churches.
- Robust commercial property and liability insurance selection, including multi-peril, workers’ compensation, and commercial auto insurance.
- Fast claims, free monitoring service for water leaks, threatening low temperatures, and even an intruder alert system that contacts law enforcement.
- Easy payments online and scheduling options ahead of the due date.
- Support and assistance with claims and facility replacement.
- High customer satisfaction and recommendations.
Great American Insurance Company
Great American Insurance Company is an excellent church insurance carrier due to its comprehensive coverage options, outstanding customer service, and dependable claims response.
Great American provides specialized coverage for religious organizations tailored to the specific needs of churches, convents, divinity schools, missions, monasteries, retreat houses, seminaries, shrines, synagogues, and temples. Great American Insurance Company is the perfect carrier for large mega churches looking for comprehensive coverage and reliable customer service.
GuideOne Mutual Insurance Company
GuideOne Mutual Insurance Company offers its policyholders a range of features and benefits. These include:
- Church group-affiliated programs
- FaithGuard insurance package policy
- Coverages specializing in churches, including Property and Liability coverages for houses of worship.
- Best-in-class religious expression insurance coverage
- Superior claims team
- Risk management services specifically for churches
- Financially stable
- Offers coverage for property damage and theft insurance
- Workers’ compensation insurance
- 15-passenger van insurance
- Bus Insurance Program
Hanover Insurance Company
The Hanover Insurance Company is a great option for church insurance, offering a wide range of coverage options and benefits. Features and benefits of using Hanover Insurance Company for church insurance include:
- Flexible coverage options with customizable limits and deductibles
- Comprehensive property and liability coverage
- Workers’ compensation coverage
- Commercial vehicle coverage
- Cost-effective rates for property coverage and inland marine policies
- Experienced agents who are knowledgeable about church insurance coverage
- Risk management resources to help churches minimize future losses
- Financial stability and reliability
Philadelphia Insurance Company
The Philadelphia Insurance Company offers a variety of features and benefits when it comes to church insurance. They provide tailored coverage for churches and religious organizations that includes the following:
- Competitive premiums
- Fast claims processing
- Large church insurance programs
- Standalone secondary policies
- High umbrella limits
- Church building insurance
- Personal property coverage limits
- International mission trip insurance coverage
What to Consider when Choosing an Insurance Carrier for your Church
When selecting a church insurance carrier for your nonprofit organization, there are several factors to consider.
- First, you should determine your coverage needs and ensure that your chosen policy meets these needs.
- You should consider your church’s location and claims history, as these can influence the cost of your coverage.
- Assess whether any vehicles, employees, or professionals associated with your church need enhanced coverage, as this can affect your insurance rates.
- Ensure you get the best coverage deal without sacrificing adequate protection.
- Finally, you should consider the available coverage types, such as property and liability, pastoral professional liability, sexual misconduct liability, travel insurance, auto insurance, and umbrella insurance.
With a suitable church insurance carrier, your church can rest assured that its members and staff are adequately protected.
Affordable Small Church Insurance Carriers
A few carriers are worth considering when finding affordable old church insurance programs. Integrity Now Insurance Brokers is an excellent option for comparing online insurance quotes for churches quickly and easily.
We have been helping churches obtain comprehensive, affordable, reliable, and affordable religion insurance. We pride ourselves on not removing the required coverages but providing additional coverage without breaking the bank.
Best Large Church Insurance Carriers
There are many factors to consider when finding the best large church insurance carriers. To ensure you get the right coverage for your religious organization, comparing and evaluating multiple providers is best.
While some national church insurance carriers may offer suitable coverage for churches, a large church insurance program needs additional protection from top-rated insurance providers.
This is where Philidelphia Insurance and Great American Insurance Company shine best. Contact our agency to gain access to these two insurance companies.
What Type of Insurance do Churches Have?
Churches need to have a variety of insurance coverage to protect themselves. These coverages include the following:
Church General Liability Insurance Coverage
A business liability insurance policy tailored for religious ministries. It protects nonprofit organizations from harm related to lawsuits and other liabilities, including injury, property damage, advertising, and personal injury. The policy covers legal defense costs and financial damages awarded by a court.
Workers Compensation Insurance
If a pastor is injured during worship services, your workers’ comp church insurer will help provide insurance protection to get your pastor back to work. Workers’ compensation policies will provide coverage for medical expenses, lost wages, and disability benefits if a pastor becomes injured due to a work-related injury.
Sexual Misconduct Liability Insurance
Your worship centers often include nursery centers, children’s ministry, and youth groups which can create an environment for an abuse claim. When accusations fly, churches need the required insurance protection in place. Having sexual conduct liability insurance helps provide financial support in defending these claims. Without sexual conduct liability coverage, churches are responsible for 100 percent of the costs to protect and payable damages.
Pastoral Counseling Services Liability Insurance
Just like a doctor needs malpractice insurance, pastors and church leaders who provide spiritual counseling must have pastoral liability insurance. This protects not only the pastor but also the religious organization.
Management Liability Insurance
Directors and Officers insurance covers potential risks associated with the church operations. It helps protect religious institutions from claims of mismanagement, negligence, wrongful acts, and negligence made against them by employees, customers, or other third parties.
All church denominations must have the necessary insurance protection in place as part of their risk management practices.
National Church Insurers Quotes
Church insurance carriers can provide resources to help churches reduce risk and understand their exposures. Most of these companies offer access to coverage explicitly tailored to the needs of religious institutions and ministries.
Integrity Now Insurance Brokers offer protection for all ministries, including those that serve youth, homeless or elderly populations or provide counseling services. Their policies offer protection from claims of sexual abuse, negligence, wrongful acts, and property damage.
To ensure that churches are properly insured and covered, Integrity Now Insurance Brokers offers comprehensive risk assessments to identify potential risks for churches before they purchase insurance coverage. This assessment involves gathering information about the church’s operations and activities and tailoring the coverage to fit their specific needs.
Integrity Now Insurance Brokers also has experience in providing specialized insurance for religious institutions, such as missionary trips, special events, and church camps. With a wide range of coverages available, Integrity Now Insurance Brokers can help churches protect themselves against any potential risk or liability.
Contact an agent today and request a church insurance quote and gain access to one of our Christian insurance companies.
